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1 Nominal Wage vs. Real Wage: What's the Difference? - Indeed
https://www.indeed.com/career-advice/career-development/nominal-wage-vs-real-wage
Real wage, or adjusted wages, is the amount of pay a person can expect to receive after factoring in the current inflation rate . For example, if a person's ...
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2 10.1 Nominal Wages and Real Wages
https://saylordotorg.github.io/text_microeconomics-theory-through-applications/s14-01-nominal-wages-and-real-wages.html
The nominal wage is the wage measured in money (dollars in the United States). The real wageThe nominal wage (the wage in dollars) divided by the price level.
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3 Difference Between Real Wage and Nominal Wage
http://www.differencebetween.net/business/difference-between-real-wage-and-nominal-wage/
Real wage refers the compensation that takes inflation into consideration in the tabulation. ... Nominal wages on the other hand is just the payment done for ...
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4 Difference between Nominal Wages and Real Wages
https://www.economicsdiscussion.net/price/difference-between-nominal-wages-and-real-wages/3897
Economists have differentiated between nominal wages and real wages. Nominal wages are the wages received by a worker in the form of money.
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5 Real Income, Inflation, and the Real Wages Formula
https://www.investopedia.com/terms/r/realincome.asp
Real income, also known as real wage, is how much money an individual or entity makes after adjusting for inflation. · Real income differs from nominal income, ...
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6 Real Wages vs. Nominal Wages (Economics 101) - YouTube
https://www.youtube.com/watch?v=UiUwuJ5a-LI
Oct 22, 2021
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7 Nominal and Real Wages: How to Calculate - YouTube
https://www.youtube.com/watch?v=q5xsVoiU-S4
Economics in Many Lessons
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8 Real wages - Wikipedia
https://en.wikipedia.org/wiki/Real_wages
Real wages are wages adjusted for inflation, or, equivalently, wages in terms of the amount of goods and services that can be bought. This term is used in ...
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9 Comparing Real Wage Rates | IZA - Institute of Labor Economics
https://www.iza.org/publications/dp/6500/comparing-real-wage-rates
A real wage rate is a nominal wage rate divided by the price of a good and is a transparent measure of how much of the good an hour of work buys. It p...
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10 Nominal Wage Tracker | Economic Policy Institute
https://www.epi.org/nominal-wage-tracker/
Mind the wage gap: Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007–2022 ...
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11 real wage
https://archive.unescwa.org/real-wage
The term real wages refers to wages that have been adjusted for inflation, or, equivalently, wages in terms of the amount of goods and services that can be ...
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12 PRICES, THE CPI, AND INFLATION
https://faculty.cbpp.uaa.alaska.edu/elhowe/ECON_S04/lectures/CPI_lecture.pdf
To calculate the real wage rate, we divide the nominal wage rate by the CPI and ... 13.3 NOMINAL GDP VERSUS REAL GDP. â–«Calculating Real GDP. Real GDP.
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13 Nominal (Money) and Real Wages | Economics - Tutor2u
https://www.tutor2u.net/economics/reference/nominal-money-and-real-wages
The nominal or money value of wages is expressed at current prices and is not adjusted for the effects of inflation.
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14 Workers Find Their Wages Falling Even Further Behind Inflation
https://www.dallasfed.org/research/economics/2022/1004
Technically, negative inflation readings move the large number of individuals with zero nominal wage growth out of the negative real-wage-growth ...
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15 Average annual wages - OECD Statistics
https://stats.oecd.org/Index.aspx?DataSetCode=AV_AN_WAGE
Average wages are obtained by dividing the national-accounts-based total wage bill by the average number of employees in the total economy, which is then ...
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16 India, China to see biggest jump in real salary as Asia ... - CNBC
https://www.cnbc.com/2022/11/01/apac-salary-asia-leads-2023-real-wage-growth-jumps-in-india-china.html
According to the annual Salary Trends Report by data company ECA International, the average real salary increase — which is nominal wage growth ...
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17 The “Wages Are Skyrocketing” Narrative Is False
https://hbr.org/2021/12/the-wages-are-skyrocketing-narrative-is-false
History lessons aside, nominal wages increased by 5.8% in October of this ... But how much of that has gone to inflation vs. an increase in ...
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18 Real Earnings in October 2022 - Bureau of Labor Statistics
https://www.bls.gov/news.release/pdf/realer.pdf
This result stems from an increase of 0.4 percent in average hourly earnings combined with an increase of 0.4 percent in the Consumer Price ...
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19 Wages - Economic Data Series | FRED | St. Louis Fed
https://fred.stlouisfed.org/tags/series?t=wages
Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over. 1982-84 CPI Adjusted Dollars.
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20 Nominal wages, consumer prices, and real wages in the UK
https://ourworldindata.org/grapher/nominal-wages-consumer-prices-and-real-wages-in-the-uk-since-1750
All our related research and data. Economic Growth. Charts. Access to a financial account or services · Access to electricity vs.
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21 Tight labor markets and wage growth in the current economy
https://www.brookings.edu/research/tight-labor-markets-and-wage-growth-in-the-current-economy/
Labor markets in the US are currently tight, and are generating substantial growth in nominal wages – i.e., those measured in current ...
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22 Nominal wages Definition & Meaning - Merriam-Webster
https://www.merriam-webster.com/dictionary/nominal%20wages
The meaning of NOMINAL WAGES is wages measured in money as distinct from actual purchasing power.
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23 Statistics on Statistics on wages - ILOSTAT
https://ilostat.ilo.org/topics/wages/
... data for wages statistics serve to assess the extent to which this is true. ... Filename, Mean nominal monthly earnings of prime-age employees by sex, ...
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24 Evidence of Nominal Wage Stickiness from Microdata - jstor
https://www.jstor.org/stable/2951337
1 into salary versus wage earners, we find that. 24.3 percent of professional/managerial salary ... centage change in real or nominal wages, since each year.
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25 Nominal and Real Values | Principles of Macroeconomics
https://www.coursehero.com/study-guides/atd-fscj-macroeconomics/nominal-and-real-values/
The nominal wage rate is the average hourly wage rate measured in current dollars and the real wage rate is the average hourly wage rate measured in dollars of ...
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26 Nominal Wages | Encyclopedia.com
https://www.encyclopedia.com/social-sciences/applied-and-social-sciences-magazines/nominal-wages
Nominal wages, or “money wages,” are pay rates unadjusted for inflation. In contrast, “real wages” are adjusted for inflation. When real wages increase, ...
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27 US wages grew at fastest pace in decades in 2021, but prices ...
https://www.piie.com/blogs/realtime-economic-issues-watch/us-wages-grew-fastest-pace-decades-2021-prices-grew-even-more
Over the last three months nominal wages and salaries for all civilian workers slowed slightly but still rose at a fast 4.4 percent annual ...
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28 Average Wage Index (AWI) - Social Security
https://www.ssa.gov/oact/cola/awidevelop.html
› oact › cola › awidevelop
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29 2022 Salary Increases Look to Trail Inflation - SHRM
https://www.shrm.org/resourcesandtools/hr-topics/compensation/pages/2022-salary-increases-look-to-trail-inflation.aspx
Despite pay raises, employees' 'real' compensation expected to fall ... However, real wage growth adjusted for inflation declined -0.6 percent overall in ...
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30 Wage Growth Tracker - Federal Reserve Bank of Atlanta
https://www.atlantafed.org/chcs/wage-growth-tracker
The Atlanta Fed's Wage Growth Tracker is a measure of the nominal wage growth of individuals. ... hourly vs. weekly Weighted series, hourly ...
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31 Real and nominal value of the minimum wage U.S. 2022
https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2022 dollars this increases to 12.04 ...
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32 Real Wage Inequality - Econometrics Laboratory, UC Berkeley
https://eml.berkeley.edu/~moretti/inequality.pdf
To measure the wage difference between college graduates and high school gradu- ates in real terms, I deflate nominal wages using a cost-of-living index that ...
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33 United States Wages and Salaries Growth - October 2022 Data
https://tradingeconomics.com/united-states/wage-growth
Wage Growth in the United States averaged 6.20 percent from 1960 until 2022, reaching an all ... Actual, Previous, Highest, Lowest, Dates, Unit, Frequency ...
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34 Real wages definition - Economics Help
https://www.economicshelp.org/blog/2637/economics/real-wages-in-uk/
Real wages show the value of wages adjusted for inflation. Real wages are a guide to how living standards have changed. ... However, if wages ...
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35 Downward Nominal Wage Rigidities Bend the Phillips Curve
https://www.frbsf.org/economic-research/wp-content/uploads/sites/4/wp2013-08.pdf
denotes plots of average inflation and the average unemployment rate (long-run) versus measured actual inflation and actual unemployment (short-run). 6 ...
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36 Median and hourly wages - ESD.wa.gov
https://esd.wa.gov/labormarketinfo/median-hourly-wages
The median and average hourly wage tables include annual data going back to 1990 for ... was used to convert nominal wages to constant-dollar (2018) wages.
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37 Are wages keeping up with the cost of living?
https://www.economicsobservatory.com/are-wages-keeping-up-with-the-cost-of-living
Equally, an economy could have an inflation rate of 5% and nominal productivity growth of 8%, which would also allow real wage rises of 3% ...
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38 Wage-Price Spiral Risks Appear Contained Despite High ...
https://www.imf.org/en/Blogs/Articles/2022/10/05/wage-price-spiral-risks-appear-contained-despite-high-inflation
Instead, inflation came down in subsequent quarters and nominal wages gradually rose, helping real wages recover.
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39 Employee wages by industry, annual - Statistique Canada
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410006401
Average hourly and weekly wage rate, and median hourly and weekly wage rate by North ... Finance, insurance, real estate, rental and leasing ...
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40 Real earnings, net earnings - Statistisches Bundesamt
https://www.destatis.de/EN/Themes/Labour/Earnings/Real-Earnings-Net-Earnings/_node.html
Real earnings, net earnings ; -4.4 % index of real earnings ; 2.9 % index of nominal earnings ; 7.6 % inflation rate.
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41 Impacts of minimum wages: review of the international evidence
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/844350/impacts_of_minimum_wages_review_of_the_international_evidence_Arindrajit_Dube_web.pdf
Since lowering the nominal NLW is highly unlikely for a variety of reasons, the main ... Real Time Information (RTI) administrative database on earnings.
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42 Wages and labour costs - Statistics Explained
https://ec.europa.eu/eurostat/statistics-explained/index.php/Wages_and_labour_costs
From the point of view of businesses, it represents a cost (labour costs) that includes not only the wages and salaries paid to employees but ...
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43 Summary Table: Income
https://stats.mom.gov.sg/Pages/Income-Summary-Table.aspx
If you are interested in wage increases that employers give over the year, then look at the annual wage ... Annualised Change in Nominal and Real Wages.
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44 Factors that Affect Wage Levels and Wage Determination ...
https://thismatter.com/economics/wages.htm
Nominal wage is the amount earned in terms of dollars or other currency, while the real wage is the amount earned in terms of what it can actually buy.
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45 Real Wages Are Increasing for Those in the Bottom Half of the ...
https://rooseveltinstitute.org/2021/11/17/real-wages-are-increasing-for-those-in-the-bottom-half-of-the-income-distribution/
However, in looking at two different estimates of real wage growth by occupations, we find that between roughly 56 and 57 percent of occupations ...
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46 Difference Between Real & Nominal Income - Digit Insurance
https://www.godigit.com/finance/salary/difference-between-real-income-and-nominal-income
Real income indicates earnings that an entity or an individual makes after considering inflation rates. It is also known as real wage when ...
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47 Real Wages Versus Nominal Wages in the Albanian Economy
https://www.researchgate.net/publication/311988784_Real_Wages_Versus_Nominal_Wages_in_the_Albanian_Economy
PDF | Nominal wages and real wages differ depending on the place and country. They are affected by many factors such as purchasing power of ...
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48 Real Wage Calculator - State of South Dakota
https://apps.sd.gov/ge102wagecalculator/Index
After taxes, how much of your income do you take home? How much can you buy with your hard earned wages? The bottom line is location matters.
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49 Unemployment and wage growth: Recent cross-state evidence
https://www.chicagofed.org/-/media/publications/economic-perspectives/2000/2qep4-pdf.pdf
for nominal wage growth, but rather for real, or ... inflation versus the natural logarithm of the annual ... lagged CPI inflation versus unemployment.
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50 Real Income - Meaning, Formula, Example, Vs Nominal Income
https://www.wallstreetmojo.com/real-income/
Nominal wage is the amount an individual earns—real wage is the actual purchasing power of the individual. Nominal wage can remain constant for years, but real ...
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51 Nominal Wages, Cost of Living, and Real ... - GHDI - Document
https://ghdi.ghi-dc.org/sub_document.cfm?document_id=1746
The real impact of wage fluctuations can only be appreciated when “nominal” (i.e., actual) wages and changes in the cost of living are taken into account.
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52 How Stagnant Real Wages Could Eventually Hurt Small ...
https://www.businessnewsdaily.com/11273-real-wages-flat-impact.html
“Real wage growth peaked in 2015 around 2.5 percent and has been slowing down to zero or negative in recent months,” said Tenpao Lee, a professor of economics ...
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53 US Presidents and their salaries, nominal vs. real.
https://www.napavalley.edu/people/wwilliams/Documents/Exam%20One%20Docs/Presidents_salaries_nominal_to_real.pdf
US Presidents and their salaries, nominal vs. real. Year. President. Nominal. Salary. CPI. 2013=100. Real Salary. 1789. Washington.
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54 Annual Wages in the United States - Measuring Worth
https://www.measuringworth.com/datasets/uswage/
It should be emphasized that both the unskilled-labor costs series and the production workers compensation series are in nominal rather than real terms.
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55 Swiss wage index | Federal Statistical Office
https://www.bfs.admin.ch/bfs/en/home/statistics/work-income/wages-income-employment-labour-costs/trend-wages.html
The Swiss nominal wage index fell by 0.2% on average in 2021 compared with 2020. It settled at 99.8 points (base 2020 = 100). Given an average annual inflation ...
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56 Even in a Hot Economy, Wages Aren't Keeping Up With Inflation
https://www.wsj.com/articles/even-in-a-hot-economy-wages-arent-keeping-up-with-inflation-unemployment-job-growth-federal-reserve-11649779113
Inflation ran 8.5% in the year ending last month, while nominal wages grew only 5.6%, a decline in inflation-adjusted wages of 2.7%. This ...
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57 How Much Salaries Will Rise (Or Fall) Around the World in 2023
https://www.bloomberg.com/news/articles/2022-10-26/how-much-will-my-salary-rise-next-year-soaring-inflation-dents-wage-hikes
Despite a 3.5% average nominal pay increase, UK salaries in real terms. Despite a 3.5% average nominal pay increase, UK salaries in real ...
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58 Inflation and Declining Real Wages Through May
https://perc.tamu.edu/PERC-Blog/PERC-Blog/Inflation-and-Declining-Real-Wages-Through-May-The
In 2022, prices have increased more than twice as fast as wages. This means that real wages have declined at an even faster pace in 2022 than in ...
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59 Real earnings in America: Parsing strong wage growth amid ...
https://journalistsresource.org/economics/real-earnings-inflation/
Keep reading to learn about real and nominal wages, different gauges of inflation and the importance of narrative.
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60 Why it makes sense to look at nominal wage growth right now
https://equitablegrowth.org/why-it-makes-sense-to-look-at-nominal-wage-growth-right-now/
But let's remember that inflation-adjusted wage growth is just the difference between nominal wage growth and inflation. Two percent nominal ...
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61 Austria Real Wages & Salaries | Moody's Analytics
https://www.economy.com/austria/real-wages-and-salaries
Real Wages & Salaries for Austria from Statistics Austria for the Standard Wage Index release. This page provides forecast and historical data, charts, ...
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62 Nominal Wage Rigidity in Village Labor Markets
https://pubs.aeaweb.org/doi/abs/10.1257/aer.20141625
In the presence of nominal rigidities, inflation will enable real wages to adjust downward without requiring any nominal wage cuts. Because local rainfall ...
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63 Wages, employment and prices: An analysis of the ... - EconStor
https://www.econstor.eu/bitstream/10419/74358/1/745728170.pdf
Keynesianism in the latter interpretation argues that the labour market can only determine nominal wages and real wages are determined by the whole economic.
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64 Salary Inflation Calculator
https://www.omnicalculator.com/finance/salary-inflation
The nominal wage is your paycheck. The real salary is your paycheck adjusted for inflation. So, if you are used to a salary raise of 3% and ...
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65 For most U.S. workers, real wages have barely budged in ...
https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/
In fact, despite some ups and downs over the past several decades, today's real average wage (that is, the wage after accounting for ...
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66 Nominal earnings fluctuation during the last financial ...
https://www.ohchr.org/sites/default/files/Documents/Issues/Development/IEDebt/WomenAusterity/Cyprus.pdf
Nominal earnings growth as measured by the labour component of GDP includes,3 inter alia, apart from monthly wages, any 13th and 14th salary, arrears, vacant ...
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67 Wages and Employment Do Not Have To Decline To Bring ...
https://www.americanprogress.org/article/wages-and-employment-do-not-have-to-decline-to-bring-down-inflation/
But this comes as real wages have been stagnant for decades for all but ... four times as fast as nominal wage growth for regular workers.
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68 Minimum Wage | U.S. Department of Labor
https://www.dol.gov/general/topic/wages/minimumwage
The federal minimum wage for covered nonexempt employees is $7.25 per hour. Many states also have minimum wage laws. In cases where an employee is subject ...
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69 Average weekly earnings in Great Britain: October 2022
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/averageweeklyearningsingreatbritain/october2022
The increasing difference between nominal and real growth rates is because of increasing consumer price inflation, including owner occupiers' ...
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70 Chapter 11
http://business.baylor.edu/tom_kelly/2307ch11.htm
Wage contracts are generally settled in terms of nominal wages. So workers and firms reach agreements based on the expected price level (and the expected real ...
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71 How Much Are Workers Getting Paid? A Primer on Wage ...
https://trumpwhitehouse.archives.gov/wp-content/uploads/2018/09/How-Much-Are-Workers-Getting-Paid-A-Primer-on-Wage-Measurement-Sept-2018.pdf
Atlanta Federal Reserve's Wage Growth Tracker nominal cash wage growth, adjust for taxes and fringe benefits, and deflate with the PCEPI, in which case real ...
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72 Inflation calculator: How much have I lost?
https://cupe.ca/cpi-calculator
Has your pay kept pace with inflation? Or are you falling behind? If the value of your wages doesn't increase faster than the cost of living, the purchasing ...
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73 What is the difference between real wage and nominal wage?
https://www.quora.com/What-is-the-difference-between-real-wage-and-nominal-wage
The nominal wage is the number of dollars a worker is paid. The real wage is the purchasing power of those dollars. For example, suppose you receive a $100 ...
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74 Real Wage Trends, 1979 to 2019
https://sgp.fas.org/crs/misc/R45090.pdf
Real Wage Trends, 1979 to 2019. Congressional Research Service. Summary. Wage earnings are the largest source of income for many workers, ...
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75 Japan Nov real wages fall for 3rd month as inflation ... - Reuters
https://www.reuters.com/markets/asia/japan-nov-real-wages-fall-3rd-month-inflation-hits-stagnant-nominal-pay-2022-01-06/
Japan's real wages fell in November for a third month as inflation outstripped stagnant nominal wages, a government data showed.
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76 Workers in Singapore expected to see higher salary increase ...
https://www.eca-international.com/news/october-2022/workers-in-singapore-expected-to-see-higher-salary
E.g. if the average nominal salary increase in a country is 4% and inflation is at 2.1%, this would result in an average real salary increase of ...
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77 9. The labour market: Wages, profits, and unemployment
https://www.core-econ.org/the-economy/book/text/09.html
The real wage is the nominal wage divided by the economy-wide price level, P. ... Step 3: Profits, wages, and the price-setting curve ... This is the wage indicated ...
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78 Average Real Wage - United Kingdom | IBISWorld
https://www.ibisworld.com/uk/bed/average-real-wage/44028/
The change in the average real wage is implied by comparing growth in nominal wages with the rate of Consumer Price Index (CPI) inflation. The ...
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79 Nice raise. Too bad about inflation. - Vox
https://www.vox.com/recode/22933594/pay-raise-price-inflation-employers-great-resignation
Inflation is at a 40-year high and eating into wage increases. ... Nominal. Real. 1. -2.6%. 2. 5.1%. Wages for private-sector employees, ...
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80 Why real wages are stagnating in Japan and Korea | CEPR
https://cepr.org/voxeu/columns/why-real-wages-are-stagnating-japan-and-korea
Thus, when wage growth and labour productivity growth are compared in nominal terms, most of the observed gap disappears for many countries.
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81 On the Relationships between Wages, Prices, and Economic ...
https://www.clevelandfed.org/publications/economic-commentary/2014/ec-201414-on-the-relationships-between-wages-prices-and-economic-activity
“Wage” Measures · Average hourly earnings (AHE) of production and nonsupervisory employees on private nonfarm payrolls. · Compensation per hour ( ...
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82 Have Wages Stagnated for Decades in the US? - AEI
https://www.aei.org/articles/have-wages-stagnated-for-decades-in-the-us/
Because the CPI overstates inflation, calculations using the CPI for inflation adjustment understate real wage growth. Figure 2 shows two series ...
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83 Wage and price inflation
https://www.bruegel.org/blog-post/wage-and-price-inflation
Kevin Drum writes that there are various way of tracking wage growth (with or without benefits, employer survey vs. worker survey, nonsupervisory vs.
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84 Wages, productivity and “structural” inflation in emerging ...
https://www.bis.org/publ/bppdf/bispap49d.pdf
Keeping the growth of real wages in line with labour productivity is widely viewed as a ... Nominal wage versus unemployment rate2.
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85 Nominal and real wages of manufacturing workers, 1860–2007
https://www.riksbank.se/globalassets/media/forskning/monetar-statistik/volym1/10.pdf
Introduction. The nominal wage represents the marginal return to a unit of labour input.1 The rise or fall in nominal wages is one of the most central ...
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86 Real wages - Economics Online
https://www.economicsonline.co.uk/definitions/real_wages.html/
Real wages are nominal wages adjusted for the effects of inflation. Changes in nominal wages can be expressed as an index, and if we divide ...
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87 Despite Inflation, Wages Are Still Higher Than Pre-Pandemic ...
https://www.businessinsider.com/despite-inflation-wages-are-still-higher-than-pre-pandemic-levels-2021-8
Real hourly wages for nonsupervisory workers have grown by 2.5% from February 2020 to $25.83 in July 2021 versus an increase of 7.8% during ...
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88 Europe's workers face bigger squeeze from real wage cuts
https://www.ft.com/content/ed477fe9-46fa-43d0-b315-4170763261c2
“In general, and especially under these circumstances, nominal wages won't grow like prices,” said Enzo Weber, head of research at the Institute ...
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89 Falling real wages - Centre for Economic Performance
https://cep.lse.ac.uk/pubs/download/cp422.pdf
economic downturns: median real wage ... 25 to 29 have seen real wage falls of the ... points in time for nominal average earnings growth and real earnings ...
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90 Thirteen Facts about Wage Growth - The Hamilton Project
https://www.hamiltonproject.org/assets/files/thirteen_facts_wage_growth.pdf
of a typical worker. Finally, wages can be expressed either in nominal or inflation-adjusted (real) terms, accounting for changes in prices.
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91 Russia VS America: Real Income Comparison - Awara Group
https://www.awaragroup.com/blog/russia-vs-america-real-income-comparison/
But the problem is that the other side of the seemingly impressive nominal salaries is a punitively high cost of living.
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92 COVID-19: How has the pandemic affected wages worldwide?
https://www.weforum.org/agenda/2021/02/covid-19-coronavirus-wages-economics-countries-work-workers-pay/
As both nominal and real wages increase, so does unemployment. Brazil's current unemployment rate is 13.3%, while wages have skyrocketed to ...
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93 Count the pennies: Explaining a decade of lost pay growth
https://www.resolutionfoundation.org/app/uploads/2018/10/Count-the-Pennies-report.pdf
Putting to one side the role of inflation in determining real wages for now, successive projections since 2014 have overestimated nominal wage growth.
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94 The Average Annual Wage of Persons Employed in Urban ...
http://www.stats.gov.cn/english/PressRelease/202205/t20220523_1857683.html
The average wage ratio between the highest and lowest regions was 1.48, an increase of 0.03 over the previous year. Average Annual Wage of ...
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